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QuotedData’s morning briefing 11 November 2020

Gabelli Merger Plus+ : GMP

In QuotedData’s morning briefing 11 November 2020 –

  • Gabelli Value Plus+ (GVP) published a circular in connection with the notice requisitioning a general meeting of the company from Associated Capital Group. On 22 October, GVP received a notice from ACG requisitioning a general meeting of the company. GVP’s board says that it does not consider that the package of measures represented by the requisitioned resolutions to deliver a solution to the expressed wishes of the significant majority of shareholders to see the Company make a substantial return of capital. Readers can access the GVP’s RNS release by clicking here.
  • Gresham House Strategic (GHS) reported a NAV total return of 15.1% over its interim period to 30 September. GHS noted that this compared with the FTSE all-share index’s total return of 7.3% while performance was in line with the FTSE small-cap index’s total return of 15.2%.
  • Honeycomb (HONY) announced that further to its announcements on 10 August 2020 and 15 September 2020, it has increased the size of its buyback programme. As previously announced, the programme is expected to end no later than 31 August 2021.
  • Workspace has posted £110m loss for the six months to September 2020 due to a £126m fall in valuations to £2,450m. Rents were down 39% from £60m to £37m. Chief executive Graham Clement said majority of tenants were now on half rent. “Our immediate priority is to manage our way through the challenges of the second half of the year,” he added.

We also have news of a $282m IPO raise by Round Hill Music, intentions to float and raise £400m and $250m respectively from VH Global Sustainable Energy Opportunities and Ecofin U.S. Renewables Infrastructure, and interim results from 3i Infrastructure and Great Portland Estates.

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